Wells Fargo & Company MN Has $2.43 Million Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Wells Fargo & Company MN cut its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 673,980 shares of the medical instruments supplier's stock after selling 102,047 shares during the period. Wells Fargo & Company MN owned approximately 0.90% of OraSure Technologies worth $2,433,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Integrated Quantitative Investments LLC purchased a new stake in shares of OraSure Technologies in the fourth quarter worth about $184,000. RPO LLC bought a new position in OraSure Technologies in the 4th quarter worth about $56,000. ExodusPoint Capital Management LP grew its position in OraSure Technologies by 1,007.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 168,941 shares of the medical instruments supplier's stock worth $610,000 after purchasing an additional 153,681 shares during the period. Geode Capital Management LLC increased its holdings in OraSure Technologies by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,844,139 shares of the medical instruments supplier's stock valued at $6,659,000 after buying an additional 46,325 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in OraSure Technologies by 28.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 273,340 shares of the medical instruments supplier's stock worth $987,000 after acquiring an additional 60,510 shares during the period. 93.50% of the stock is owned by institutional investors.

Insider Transactions at OraSure Technologies

In other OraSure Technologies news, CEO Manner Carrie Eglinton bought 78,625 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $3.15 per share, with a total value of $247,668.75. Following the acquisition, the chief executive officer now directly owns 1,259,664 shares of the company's stock, valued at $3,967,941.60. The trade was a 6.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John P. Kenny acquired 47,659 shares of the business's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $3.17 per share, with a total value of $151,079.03. Following the transaction, the director now directly owns 70,915 shares of the company's stock, valued at $224,800.55. This represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 190,284 shares of company stock worth $600,348 in the last ninety days. Insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded OraSure Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th.

OraSure Technologies Price Performance

OSUR stock traded down $0.07 during trading on Wednesday, hitting $2.99. 352,414 shares of the company traded hands, compared to its average volume of 869,701. The company has a market cap of $231.69 million, a PE ratio of 19.93 and a beta of 0.76. OraSure Technologies, Inc. has a 1 year low of $2.69 and a 1 year high of $5.59. The stock's 50-day simple moving average is $3.28 and its 200 day simple moving average is $3.69.

OraSure Technologies declared that its Board of Directors has approved a share buyback program on Monday, March 24th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 15.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

About OraSure Technologies

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.